Precision Planting Market - Size, Share & Industry Trends

The global precision planting market size is estimated to be USD 5.0 billion in 2022 and is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.3% during the forecast period.

Some of the major factors contributing to the growth of precision planting market includes the substantial cost-savings associated with precision planting and seeding equipment, surge in the adoption of advanced technologies in precision agriculture to reduce labour cost, and increasing promotion of precision planting techniques by governments worldwide. Moreover, climate change and need to meet rising demand for food will also drive the growth of the industry in the near future.

Deere & Company (US), Trimble Inc. (US), CNH Industrial N.V. (UK), Kinze Manufacturing, Inc. (US), and Precision Planting (brand of AGCO) (US) are among the major players in the precision planting market.

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High-speed precision planting systems to led the precision planting market during the forecast period

Precision planting market share will continue to be dominated by high-speed precision planting systems in 2022 and similar trend is expected to be continued by 2027. Farmers are becoming more aware of the benefits of using these planting systems as well as the high return on investment (ROI). With GPS-based auto-guidance planters, growers can reduce seed overlap during the planting process, thereby reducing input costs substantially.

Hardware segment to account for largest market share of precision planting market during the forecast period

Precision planting market share is expected to remain high in the hardware segment until 2027. Increasing adoption of automation and control devices, such as drones/unmanned aerial vehicles (UAV), GPS devices, control systems, guidance systems, delivery systems, and display systems, has contributed to the growth of this segment. Planters use hardware such as delivery systems, control systems, seed meters, sensors, and GPS devices to ensure accurate seed placement and uniform seed distribution. Agricultural vehicles use GPS-based auto-guidance technology to reduce overlapping during field mapping, which in turn saves fuel, labor, and time, and compacts soil. Precision planting hardware market growth is expected to be driven by the increasing adoption of advanced planting and seeding equipment with new features such as VRT and guidance systems for precision planting.

The precision planting market is expected to see higher growth rate for the electric drive segment during the forecast period

The electric drive makes precision planter and seeding systems simpler. Farmers for whom corn is a secondary crop say the cost of a new planter forces them to keep fixing, modifying, and upgrading the older unit. By using electric motors, farmers or growers are able to control individual row units at a variable rate. As energy consumption on farm equipment increases, they have a clear advantage over mechanical, hydraulic, and pneumatic components. The power delivery of an electric motor is consistent and uniform. The regulation of electricity is more precise than any other power source. As a result, seed placement functions in planters and drills are more accurate. With electric drive metering, hydraulic requirements such as chains, sprockets, and gears are eliminated. With fewer parts, the metering system will be simpler.

Americas likely to lead precision planting market during the forecast period.

The Americas is segmented into North America and South America. North America is expected to account for the largest share of the precision planting market during the forecast period, owing to the presence of a substantial number of large-sized farms and major players, such as Deere & Company (US), Precision Planting (brand of AGCO) (US), Kinze Manufacturing Inc. (US), and Topcon Positioning Systems (US) in this region.